SageView Advisory Group is buying two of the founders and managing companions of Retirement Advantages Group in San Diego, together with their crew, SageView mentioned Thursday.
The RBG crew is an institutional retirement plan consulting group with $5.2 billion in belongings underneath advisement, which additionally features a rising wealth administration enterprise with $63 million in belongings underneath administration, in accordance with impartial registered funding advisor SageView.
RBG was based in 2010 to supply personalized retirement plan consulting options, govt advantages and retirement administration providers to U.S. firms.
As a part of the deal, RGB co-founders Tony Franchimone and Larry Deatherage will turn into managing administrators at SageView and shall be joined by retirement plan marketing consultant Cory McCarthy, wealth advisor Winston Ventura and shopper providers affiliate Rachel Corridor, SageView mentioned.
“SageView’s centralized assist groups in apply administration, advisory providers, advertising and enterprise growth present the assist we have to proceed our development and success serving retirement plan sponsors,” Franchimone mentioned in an announcement. “We may even have the ability to evolve our wealth administration expertise and operations with SageView.”
The transaction is predicted to shut on June 30, in accordance with SageView. Monetary phrases weren’t disclosed.
The RBG buy is the ninth that SageView has introduced since July 2021 and since establishing a partnership with Aquiline Capital Companions, a monetary providers and technology-focused personal fairness agency.
Previous to RBG, Newport Seaside, California-based SageView mentioned in December that it accomplished an acquisition of Lakeview Wealth Administration, a Deer Park, Illinois-based crew of six ladies.
